Five9’s (FIVN) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Five9 (NASDAQ:FIVN) in a report released on Friday morning,Benzinga reports. Rosenblatt Securities currently has a $58.00 price target on the software maker’s stock.

Several other brokerages have also recently commented on FIVN. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price target on shares of Five9 in a research report on Friday. Morgan Stanley increased their price target on shares of Five9 from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $65.00 price objective on shares of Five9 in a report on Wednesday, March 19th. Truist Financial reissued a “buy” rating and set a $65.00 price target on shares of Five9 in a research report on Tuesday, December 17th. Finally, Cantor Fitzgerald upped their price objective on shares of Five9 from $46.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Five9 presently has an average rating of “Moderate Buy” and an average target price of $56.76.

Five9 Trading Down 8.9 %

Shares of FIVN opened at $23.00 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -114.99, a PEG ratio of 9.41 and a beta of 1.29. The stock has a fifty day moving average price of $35.20 and a two-hundred day moving average price of $35.66. Five9 has a 52-week low of $22.09 and a 52-week high of $63.30.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings results on Thursday, February 20th. The software maker reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.44). Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. The company had revenue of $278.66 million for the quarter, compared to analyst estimates of $267.70 million. Analysts predict that Five9 will post 0.28 EPS for the current fiscal year.

Insider Transactions at Five9

In other Five9 news, CAO Leena Mansharamani sold 1,135 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $30.20, for a total value of $34,277.00. Following the transaction, the chief accounting officer now directly owns 47,165 shares of the company’s stock, valued at $1,424,383. This represents a 2.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Panos Kozanian sold 7,619 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.40, for a total value of $254,474.60. Following the sale, the executive vice president now owns 126,359 shares of the company’s stock, valued at approximately $4,220,390.60. This represents a 5.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,574 shares of company stock worth $1,004,346. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Five9

A number of hedge funds have recently bought and sold shares of FIVN. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Five9 by 13.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,069 shares of the software maker’s stock worth $548,000 after purchasing an additional 2,254 shares during the period. Verition Fund Management LLC increased its stake in Five9 by 144.3% during the 3rd quarter. Verition Fund Management LLC now owns 49,511 shares of the software maker’s stock worth $1,422,000 after acquiring an additional 29,248 shares during the period. XTX Topco Ltd bought a new stake in shares of Five9 during the 3rd quarter valued at $629,000. Y Intercept Hong Kong Ltd grew its holdings in shares of Five9 by 371.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 84,112 shares of the software maker’s stock worth $2,417,000 after purchasing an additional 66,286 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Five9 by 215.8% in the third quarter. Barclays PLC now owns 242,187 shares of the software maker’s stock worth $6,956,000 after purchasing an additional 165,487 shares during the period. 96.64% of the stock is owned by institutional investors.

Five9 Company Profile

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States, India, and internationally. It offers a virtual contact center cloud platform that delivers a suite of applications, which enables the breadth of contact center-related customer service, sales, and marketing functions.